The Final, Definitive Thread on Brokerage Transfer Bonuses

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sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

SlowMovingInvestor wrote: Mon May 03, 2021 9:38 am
Leesbro63 wrote: Mon May 03, 2021 9:36 am
SlowMovingInvestor wrote: Sat May 01, 2021 2:16 pm
Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.
Insurance up to $1.5M, but what is the aggregate "cap" for claims on all accounts? I admit that no one lost money, to my knowledge, at Robinhood because of any failure. I'm just saying that their inability to handle whatever happened would concern me if I had more than the SPIC limit there.
I'm guessing cap is around $2B, which is the same as Fido, MS/Etrade etc. But yes, it's much safer to be at Fido or MS than RH in the event of a massive failure.
It’s an opportunity- or make your own wise choice. It’s your money after all.

All I said was - we did 3-4 M1 transfers and bonuses — all went extremely smooth and timely (be cognizant of M1 once-a-day trading rules — then again - we never trade; we simply buy and hold .. so it doesn’t matter much to us)

As far as SIPC insurance- the actual holdings are held at Apex Clearing (expected to go public at $5 Billion !?) knowing eTrade sold out for $13 billion — we are not talking peanuts around here. Anyhow .. here we are in the Bonus opportunities thread — discussing where/why not to do bonuses — May be someone should start a new thread on such topic and see how much it gets traction !?
angelescrest
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by angelescrest »

I'm thinking of putting $100k into a Schwab account to get the $500 friends and family bonus (need to keep it there for 1 year). Are there better deals out there right now that anyone knows of? I think despite their merger, the fact that I have an existing TD Ameritrade account shouldn't affect the bonus.

Secondly, do any boglehead friends want to share a referral code with me?
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

angelescrest wrote: Sun May 16, 2021 9:06 am I'm thinking of putting $100k into a Schwab account to get the $500 friends and family bonus (need to keep it there for 1 year). Are there better deals out there right now that anyone knows of? I think despite their merger, the fact that I have an existing TD Ameritrade account shouldn't affect the bonus.
If it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
The two greatest enemies of the equity fund investor are expenses and emotions. ― John C. Bogle
angelescrest
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by angelescrest »

jeffyscott wrote: Sun May 16, 2021 12:02 pm
angelescrest wrote: Sun May 16, 2021 9:06 am I'm thinking of putting $100k into a Schwab account to get the $500 friends and family bonus (need to keep it there for 1 year). Are there better deals out there right now that anyone knows of? I think despite their merger, the fact that I have an existing TD Ameritrade account shouldn't affect the bonus.
If it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Thanks, good suggestion on asking for matches. This isn’t for a retirement account, just a taxable investment account.
CrisisAverted
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by CrisisAverted »

Anyone aware of how long we have to keep funds in the account/brokerage for the Chase CPC $2k bonus offer? I'd like to consolidate and drop below CPC minimums, but above the Sapphire Checking level.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

CrisisAverted wrote: Tue May 18, 2021 1:41 am Anyone aware of how long we have to keep funds in the account/brokerage for the Chase CPC $2k bonus offer? I'd like to consolidate and drop below CPC minimums, but above the Sapphire Checking level.
My understanding is 90 days. You get you bonus and you can move money away. However, note that if you want to avoid the monthly fee, you need at least $150k.
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

jeffyscott wrote: Sun May 16, 2021 12:02 pm
angelescrest wrote: Sun May 16, 2021 9:06 am I'm thinking of putting $100k into a Schwab account to get the $500 friends and family bonus (need to keep it there for 1 year). Are there better deals out there right now that anyone knows of? I think despite their merger, the fact that I have an existing TD Ameritrade account shouldn't affect the bonus.
If it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Thank you for this link. It sounds like both new and existing customers can open two new retirement accounts and fund each with, say, $100,000 and receive a bonus totaling $1000 across two accounts. Does that sound correct?

A few questions for those that have or had accounts at E-Trade:
1) Does E-Trade offer no transction fee Vanguard mutual funds? I assume one can purchase Vanguard ETFs with zero commission if mutual funds isn't an option?
2) Does E-Trade support in-kind ACAT transfers?
3) Does E-Trade maintain accurate cost basis of mutual funds and ETFs received via ACAT transfers for a nonretirement account?
4) What is the transfer out experience like at E-Trade? Does it transfer cost basis accurately to the receiving brokerage firm?
5) Does E-Trade reimburse transfer fees assessed by the sending financial institution?

Thank you.

[Edited to add question on transfer fee reimbursement]
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

Pam01 wrote: Fri May 21, 2021 4:03 pm
A few questions for those that have or had accounts at E-Trade:
1) Does E-Trade offer no transction fee Vanguard mutual funds? I assume one can purchase Vanguard ETFs with zero commission if mutual funds isn't an option?
2) Does E-Trade support in-kind ACAT transfers?
3) Does E-Trade maintain accurate cost basis of mutual funds and ETFs received via ACAT transfers for a nonretirement account?
4) What is the transfer out experience like at E-Trade? Does it transfer cost basis accurately to the receiving brokerage firm?
5) Does E-Trade reimburse transfer fees assessed by the sending financial institution?

Thank you.

[Edited to add question on transfer fee reimbursement]
1) Yes, it offers several Vanguard MFs NTF. Not all. And yes, you can buy ETFs commission free
2) Yes
3) Yes.
4) Worked fine the one time I tried it.
5) Yes, in general but they may have limits on how much they'll reimburse depending on size of transfer.

Etrade is generally very good despite now being part of MS.
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

SlowMovingInvestor wrote: Fri May 21, 2021 4:20 pm
Pam01 wrote: Fri May 21, 2021 4:03 pm
A few questions for those that have or had accounts at E-Trade:
1) Does E-Trade offer no transction fee Vanguard mutual funds? I assume one can purchase Vanguard ETFs with zero commission if mutual funds isn't an option?
2) Does E-Trade support in-kind ACAT transfers?
3) Does E-Trade maintain accurate cost basis of mutual funds and ETFs received via ACAT transfers for a nonretirement account?
4) What is the transfer out experience like at E-Trade? Does it transfer cost basis accurately to the receiving brokerage firm?
5) Does E-Trade reimburse transfer fees assessed by the sending financial institution?

Thank you.

[Edited to add question on transfer fee reimbursement]
1) Yes, it offers several Vanguard MFs NTF. Not all. And yes, you can buy ETFs commission free
2) Yes
3) Yes.
4) Worked fine the one time I tried it.
5) Yes, in general but they may have limits on how much they'll reimburse depending on size of transfer.

Etrade is generally very good despite now being part of MS.
Thank you, SlowMovingInvestor. This is very helpful.
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

jeffyscott wrote: Sun May 16, 2021 12:02 pmIf it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Details on the page you linked to show that offer is good through 2021 and that new accounts must be funded within 60 days and remain fully funded for that period, to keep the credit. I find no other reference to maintaining the account for a longer period. Is there a requirement to that effect?
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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

Pam01 wrote: Sat May 22, 2021 1:44 pm
SlowMovingInvestor wrote: Fri May 21, 2021 4:20 pm
Pam01 wrote: Fri May 21, 2021 4:03 pm
A few questions for those that have or had accounts at E-Trade:
1) Does E-Trade offer no transction fee Vanguard mutual funds? I assume one can purchase Vanguard ETFs with zero commission if mutual funds isn't an option?
2) Does E-Trade support in-kind ACAT transfers?
3) Does E-Trade maintain accurate cost basis of mutual funds and ETFs received via ACAT transfers for a nonretirement account?
4) What is the transfer out experience like at E-Trade? Does it transfer cost basis accurately to the receiving brokerage firm?
5) Does E-Trade reimburse transfer fees assessed by the sending financial institution?

Thank you.

[Edited to add question on transfer fee reimbursement]
1) Yes, it offers several Vanguard MFs NTF. Not all. And yes, you can buy ETFs commission free
2) Yes
3) Yes.
4) Worked fine the one time I tried it.
5) Yes, in general but they may have limits on how much they'll reimburse depending on size of transfer.

Etrade is generally very good despite now being part of MS.
Thank you, SlowMovingInvestor. This is very helpful.
A few months ago, I transferred assets from TDA to Etrade for a bonus. Etrade refused to reimburse the transfer fee, saying they were already giving me a bonus, part of which was meant to cover the transfer fee. YMMV.
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Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

spammagnet wrote: Sun May 23, 2021 2:53 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pmIf it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Details on the page you linked to show that offer is good through 2021 and that new accounts must be funded within 60 days and remain fully funded for that period, to keep the credit. I find no other reference to maintaining the account for a longer period. Is there a requirement to that effect?
I see from the same link that the funds should remaining in the account for a period of 12 months or the cash credits may be surrendered.
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

indexfundfan wrote: Sun May 23, 2021 2:59 pm
Pam01 wrote: Sat May 22, 2021 1:44 pm
SlowMovingInvestor wrote: Fri May 21, 2021 4:20 pm
Pam01 wrote: Fri May 21, 2021 4:03 pm
A few questions for those that have or had accounts at E-Trade:
1) Does E-Trade offer no transction fee Vanguard mutual funds? I assume one can purchase Vanguard ETFs with zero commission if mutual funds isn't an option?
2) Does E-Trade support in-kind ACAT transfers?
3) Does E-Trade maintain accurate cost basis of mutual funds and ETFs received via ACAT transfers for a nonretirement account?
4) What is the transfer out experience like at E-Trade? Does it transfer cost basis accurately to the receiving brokerage firm?
5) Does E-Trade reimburse transfer fees assessed by the sending financial institution?

Thank you.

[Edited to add question on transfer fee reimbursement]
1) Yes, it offers several Vanguard MFs NTF. Not all. And yes, you can buy ETFs commission free
2) Yes
3) Yes.
4) Worked fine the one time I tried it.
5) Yes, in general but they may have limits on how much they'll reimburse depending on size of transfer.

Etrade is generally very good despite now being part of MS.
Thank you, SlowMovingInvestor. This is very helpful.
A few months ago, I transferred assets from TDA to Etrade for a bonus. Etrade refused to reimburse the transfer fee, saying they were already giving me a bonus, part of which was meant to cover the transfer fee. YMMV.
Thanks, I'll check on that. Did cost basis and tax lots transfer correctly for you, assuming your transfer was for taxable assets?
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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

Pam01 wrote: Sun May 23, 2021 3:08 pm Thanks, I'll check on that. Did cost basis and tax lots transfer correctly for you, assuming your transfer was for taxable assets?
Yes, tax lots posted correctly at Etrade. It does take a few more days after the transfer. This is typical.
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spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

Pam01 wrote: Sun May 23, 2021 3:06 pm
spammagnet wrote: Sun May 23, 2021 2:53 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pmIf it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Details on the page you linked to show that offer is good through 2021 and that new accounts must be funded within 60 days and remain fully funded for that period, to keep the credit. I find no other reference to maintaining the account for a longer period. Is there a requirement to that effect?
I see from the same link that the funds should remaining in the account for a period of 12 months or the cash credits may be surrendered.
I looked for that and missed it. Where?
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

spammagnet wrote: Sun May 23, 2021 4:12 pm
Pam01 wrote: Sun May 23, 2021 3:06 pm
spammagnet wrote: Sun May 23, 2021 2:53 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pmIf it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Details on the page you linked to show that offer is good through 2021 and that new accounts must be funded within 60 days and remain fully funded for that period, to keep the credit. I find no other reference to maintaining the account for a longer period. Is there a requirement to that effect?
I see from the same link that the funds should remaining in the account for a period of 12 months or the cash credits may be surrendered.
I looked for that and missed it. Where?
Expand offer details and look in "Offer Rules for all Participants" section.
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

indexfundfan wrote: Sun May 23, 2021 3:39 pm
Pam01 wrote: Sun May 23, 2021 3:08 pm Thanks, I'll check on that. Did cost basis and tax lots transfer correctly for you, assuming your transfer was for taxable assets?
Yes, tax lots posted correctly at Etrade. It does take a few more days after the transfer. This is typical.
That's good to know, thanks.
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

Pam01 wrote: Sun May 23, 2021 4:30 pm
spammagnet wrote: Sun May 23, 2021 4:12 pm
Pam01 wrote: Sun May 23, 2021 3:06 pm
spammagnet wrote: Sun May 23, 2021 2:53 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pmIf it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Details on the page you linked to show that offer is good through 2021 and that new accounts must be funded within 60 days and remain fully funded for that period, to keep the credit. I find no other reference to maintaining the account for a longer period. Is there a requirement to that effect?
I see from the same link that the funds should remaining in the account for a period of 12 months or the cash credits may be surrendered.
I looked for that and missed it. Where?
Expand offer details and look in "Offer Rules for all Participants" section.
Yup, it's there. Missed it. Thanks.

I think I'll pass and leave my money mobile so I can take advantage of other offers, should there be any.
02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

indexfundfan wrote: Sun May 23, 2021 2:59 pm A few months ago, I transferred assets from TDA to Etrade for a bonus. Etrade refused to reimburse the transfer fee, saying they were already giving me a bonus, part of which was meant to cover the transfer fee. YMMV.
I requested about 8 or so different transfer out fees reimbursed (two different persons' accounts at E*Trade), and E*Trade did reimburse all of them. Not sure if account size matters (roughly $500K per person).
jljl222
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jljl222 »

02nz wrote: Wed May 26, 2021 1:57 pm
indexfundfan wrote: Sun May 23, 2021 2:59 pm A few months ago, I transferred assets from TDA to Etrade for a bonus. Etrade refused to reimburse the transfer fee, saying they were already giving me a bonus, part of which was meant to cover the transfer fee. YMMV.
I requested about 8 or so different transfer out fees reimbursed (two different persons' accounts at E*Trade), and E*Trade did reimburse all of them. Not sure if account size matters (roughly $500K per person).
Another data point: My E*Trade local rep also said they don't reimburse the transfer fee for IRAs (for regulatory reasons or some such). They said they do reimburse into non-IRAs.

That said, the "Active Trader Consultant" I was connected with (separate from the local rep) said they'll reimburse the fee. This was via a brief email, instead of the more thorough discussion with the local rep. I didn't proceed with E*Trade after all, so don't know if the Active Trader side would've reimbursed or not into an IRA.

Schwab, who I asked to match the E*Trade offer, says they'll reimburse these fees for my IRA transfers.
jljl222
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jljl222 »

Pam01 wrote: Fri May 21, 2021 4:03 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pm If it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Thank you for this link. It sounds like both new and existing customers can open two new retirement accounts and fund each with, say, $100,000 and receive a bonus totaling $1000 across two accounts. Does that sound correct?

[...]
E*Trade local rep says I'd get bonus only for the higher-balance of the two new accounts, not bonus for the aggregate total. Hope you and others have better result! (I asked about transferring in a tIRA and a Roth. I'm not an existing client.)

I ended up asking Schwab to match E*Trade's offer, and on the aggregate total. They agreed. They said they'll also reimburse the transfer fees. I'm in process of transferring to Schwab now.
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

jljl222 wrote: Fri May 28, 2021 2:31 pm
Pam01 wrote: Fri May 21, 2021 4:03 pm
jeffyscott wrote: Sun May 16, 2021 12:02 pm If it is a retirement account, you can ask them to match E-Trade (I'm quite sure they will) and you can get the same $500 w/o the referral code. They may even just match themselves w/o needing a referral code, if you ask.
https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Thank you for this link. It sounds like both new and existing customers can open two new retirement accounts and fund each with, say, $100,000 and receive a bonus totaling $1000 across two accounts. Does that sound correct?

[...]
E*Trade local rep says I'd get bonus only for the higher-balance of the two new accounts, not bonus for the aggregate total. Hope you and others have better result! (I asked about transferring in a tIRA and a Roth. I'm not an existing client.)

I ended up asking Schwab to match E*Trade's offer, and on the aggregate total. They agreed. They said they'll also reimburse the transfer fees. I'm in process of transferring to Schwab now.
The E*Trade local rep that I spoke to said they look at the aggregate total and prorate the bonus across the multiple new IRA accounts based on their deposit balances. I need to let them know once the accounts are open so that they can set them up for bonuses.
jljl222
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jljl222 »

Pam01 wrote: Fri May 28, 2021 3:08 pm The E*Trade local rep that I spoke to said they look at the aggregate total and prorate the bonus across the multiple new IRA accounts based on their deposit balances. I need to let them know once the accounts are open so that they can set them up for bonuses.
That's great! Good to know. Thanks!
Pam01
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pam01 »

jljl222 wrote: Fri May 28, 2021 5:02 pm
Pam01 wrote: Fri May 28, 2021 3:08 pm The E*Trade local rep that I spoke to said they look at the aggregate total and prorate the bonus across the multiple new IRA accounts based on their deposit balances. I need to let them know once the accounts are open so that they can set them up for bonuses.
That's great! Good to know. Thanks!
Do you already have an account with Schwab or are you a new customer? Would like to get recent data points on whether Schwab matches transfer bonuses for existing customers in addition to new ones. Did you speak to a local Schwab rep regarding the bonus match?
jljl222
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jljl222 »

Pam01 wrote: Fri May 28, 2021 11:34 pm
jljl222 wrote: Fri May 28, 2021 5:02 pm
Pam01 wrote: Fri May 28, 2021 3:08 pm The E*Trade local rep that I spoke to said they look at the aggregate total and prorate the bonus across the multiple new IRA accounts based on their deposit balances. I need to let them know once the accounts are open so that they can set them up for bonuses.
That's great! Good to know. Thanks!
Do you already have an account with Schwab or are you a new customer? Would like to get recent data points on whether Schwab matches transfer bonuses for existing customers in addition to new ones. Did you speak to a local Schwab rep regarding the bonus match?
I'm a new Schwab customer. Customer Service connected me with a local rep, who got the match approved after about a week.

Now that I'm becoming an existing customer, I'm also curious to hear whether others have gotten additional bonuses, and whether there's a wait period like Merrill had.
Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 »

SlowMovingInvestor wrote: Wed Nov 13, 2019 5:46 pm I was talking to a rep at Schwab about one of their bonuses, and the rep said that to get a bonus for say transferring in $250K, you need to transfer 250K in, then make sure that the 250K balance is maintained for 45 days until the bonus is paid.

This doesn't make sense to me -- market values can fluctuate. I am assuming the rep was wrong. You should need to net transfer in the amount ($250k or whatever) in 45 days.
Did you find out how the system is handling it?
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

Usually that means without making withdrawals so market movements don't count.
Pessimist55
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Pessimist55 »

1. I managed to get Schwab to match E-Trade offer of $1k for 250k ( maybe 200k assets- forgot) in Dec 20. Surprised they bit. Had minimal assets at Schwab.

2. Etrade local rep last year got me an offer and they were able to prorate bonus across accounts but wouldn't reimburse acat fee.

3. A few months ago. 800 E-Trade rep tried to get an offer approved but was denied days later. Had me contact local rep. Same Local rep from last year tried an offer but was denied. Then escalated and eventually got me a reasonable offer ( as an exception). I didn't bother seeking acat as the guy really tried and I wanted to be grateful than pushy/greedy.

My tiers are 200/250k to 500k

Summary:
For E-Trade, work w local rep.
Schwab rep who matched offer said limit one match/ offer every 12mo.
spammagnet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by spammagnet »

placeholder wrote: Sun Jun 06, 2021 12:20 amUsually that means without making withdrawals so market movements don't count.
That is my recall of various bonus agreements, as well. They explicitly state that only withdrawals count. However, if you withdraw to just above the minimum, then the market drops, I don't know how they'll treat that. I haven't had the problem because the funds I transfer are typically buy and hold ETFs.
ChiKid24
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ChiKid24 »

Pessimist55 wrote: Sun Jun 06, 2021 12:45 am 1. I managed to get Schwab to match E-Trade offer of $1k for 250k ( maybe 200k assets- forgot) in Dec 20. Surprised they bit. Had minimal assets at Schwab.

2. Etrade local rep last year got me an offer and they were able to prorate bonus across accounts but wouldn't reimburse acat fee.

3. A few months ago. 800 E-Trade rep tried to get an offer approved but was denied days later. Had me contact local rep. Same Local rep from last year tried an offer but was denied. Then escalated and eventually got me a reasonable offer ( as an exception). I didn't bother seeking acat as the guy really tried and I wanted to be grateful than pushy/greedy.

My tiers are 200/250k to 500k

Summary:
For E-Trade, work w local rep.
Schwab rep who matched offer said limit one match/ offer every 12mo.
Good summary. It definitely doesn't hurt to ask your existing bank to match. I took the recent Citi offer to my Fidelity rep despite having zero intention of shifting assets to Citi. Was able to get a $2,000 retention credit from Fidelity. Requires me not to make any "significant withdrawals" from the account for a 12-month period, or be subject to claw back. I have no intention of doing that, so I didn't really inquire what constituted significant.
stilllurking
Posts: 251
Joined: Mon Jun 16, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stilllurking »

I have a few more months before my lockup expires with Merrill Edge. Have a joint CMA which I just got my bonus and two Roth IRAs that will get bonuses in August. This is about $1M between these three accounts but I also have another taxable account that I've been looking to consolidate.

Is Etrade the best deal at this time? It looks like it's YMMV for them to pay the transfer fees that will be charged by ME.

I've been reading that if I were to move all of the assets out of ME, that I have about a year before I need to move assets back in order to retain Platinum Honors, is that right? I couldn't follow how that all worked out. If someone can give me explanation as if I'm a 5 year old, I'd appreciate it.
onceking
Posts: 5
Joined: Fri Apr 13, 2018 10:14 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by onceking »

stilllurking wrote: Mon Jun 14, 2021 2:29 pm I have a few more months before my lockup expires with Merrill Edge. Have a joint CMA which I just got my bonus and two Roth IRAs that will get bonuses in August. This is about $1M between these three accounts but I also have another taxable account that I've been looking to consolidate.

Is Etrade the best deal at this time? It looks like it's YMMV for them to pay the transfer fees that will be charged by ME.

I've been reading that if I were to move all of the assets out of ME, that I have about a year before I need to move assets back in order to retain Platinum Honors, is that right? I couldn't follow how that all worked out. If someone can give me explanation as if I'm a 5 year old, I'd appreciate it.
There's is no fee if you do a partial transfer out of ME.

For platinum honors, if your balance drops, you keep the status for 1 year. See https://www.bankofamerica.com/preferred-rewards/faq/
stilllurking
Posts: 251
Joined: Mon Jun 16, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stilllurking »

onceking wrote: Mon Jun 14, 2021 2:33 pm
stilllurking wrote: Mon Jun 14, 2021 2:29 pm I have a few more months before my lockup expires with Merrill Edge. Have a joint CMA which I just got my bonus and two Roth IRAs that will get bonuses in August. This is about $1M between these three accounts but I also have another taxable account that I've been looking to consolidate.

Is Etrade the best deal at this time? It looks like it's YMMV for them to pay the transfer fees that will be charged by ME.

I've been reading that if I were to move all of the assets out of ME, that I have about a year before I need to move assets back in order to retain Platinum Honors, is that right? I couldn't follow how that all worked out. If someone can give me explanation as if I'm a 5 year old, I'd appreciate it.
There's is no fee if you do a partial transfer out of ME.

For platinum honors, if your balance drops, you keep the status for 1 year. See https://www.bankofamerica.com/preferred-rewards/faq/
What is considered a partial transfer? 2 of 3 accounts? or some assets from each account? Is a whole Roth transfer out partial?

Thanks for the link.
onceking
Posts: 5
Joined: Fri Apr 13, 2018 10:14 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by onceking »

stilllurking wrote: Mon Jun 14, 2021 2:40 pm
onceking wrote: Mon Jun 14, 2021 2:33 pm
stilllurking wrote: Mon Jun 14, 2021 2:29 pm I have a few more months before my lockup expires with Merrill Edge. Have a joint CMA which I just got my bonus and two Roth IRAs that will get bonuses in August. This is about $1M between these three accounts but I also have another taxable account that I've been looking to consolidate.

Is Etrade the best deal at this time? It looks like it's YMMV for them to pay the transfer fees that will be charged by ME.

I've been reading that if I were to move all of the assets out of ME, that I have about a year before I need to move assets back in order to retain Platinum Honors, is that right? I couldn't follow how that all worked out. If someone can give me explanation as if I'm a 5 year old, I'd appreciate it.
There's is no fee if you do a partial transfer out of ME.

For platinum honors, if your balance drops, you keep the status for 1 year. See https://www.bankofamerica.com/preferred-rewards/faq/
What is considered a partial transfer? 2 of 3 accounts? or some assets from each account? Is a whole Roth transfer out partial?

Thanks for the link.
It's a partial if you leave some assets in the account.
stilllurking
Posts: 251
Joined: Mon Jun 16, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by stilllurking »

onceking wrote: Mon Jun 14, 2021 2:48 pm
stilllurking wrote: Mon Jun 14, 2021 2:40 pm
onceking wrote: Mon Jun 14, 2021 2:33 pm
stilllurking wrote: Mon Jun 14, 2021 2:29 pm I have a few more months before my lockup expires with Merrill Edge. Have a joint CMA which I just got my bonus and two Roth IRAs that will get bonuses in August. This is about $1M between these three accounts but I also have another taxable account that I've been looking to consolidate.

Is Etrade the best deal at this time? It looks like it's YMMV for them to pay the transfer fees that will be charged by ME.

I've been reading that if I were to move all of the assets out of ME, that I have about a year before I need to move assets back in order to retain Platinum Honors, is that right? I couldn't follow how that all worked out. If someone can give me explanation as if I'm a 5 year old, I'd appreciate it.
There's is no fee if you do a partial transfer out of ME.

For platinum honors, if your balance drops, you keep the status for 1 year. See https://www.bankofamerica.com/preferred-rewards/faq/
What is considered a partial transfer? 2 of 3 accounts? or some assets from each account? Is a whole Roth transfer out partial?

Thanks for the link.
It's a partial if you leave some assets in the account.
Thanks onceking. I'd prefer to keep the accounts together if at all possible. Less chance for me to forget about an account.
placeholder
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Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

With Edge I leave a few bucks cash to avoid the transfer fee and keep the account open.
civility
Posts: 102
Joined: Mon Jun 17, 2019 9:35 pm

Rollover offers

Post by civility »

[Thread has been merged into the existing thread noted in the next post- Moderator Misenplace]

Hello,

I am changing jobs, planning to rollover my retirement account(around 150K) by this month end. Schwab has $500 offer for rollover, anyone aware of other offers better than Schwab at this time.

Thanks!
fabdog
Posts: 1731
Joined: Wed Jan 16, 2013 1:59 pm
Location: Williamsburg VA

Re: Rollover offers

Post by fabdog »

Well, there's this thread... the final, definitive thread on bonus offers

viewtopic.php?t=196884

The search box kicks up many more, as this is often discussed

Mike
civility
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Joined: Mon Jun 17, 2019 9:35 pm

Re: Rollover offers

Post by civility »

Thanks for referring me to that thread!
terran
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Joined: Sat Jan 10, 2015 10:50 pm

Re: Rollover offers

Post by terran »

Also see https://www.doctorofcredit.com/best-bro ... p-to-3500/ -- the offers often apply to IRAs as well as taxable accounts.
placeholder
Posts: 4863
Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

$500 is probably as much as you're going to get at that asset level so Schwab or Etrade pick the one you like unless you have some existing roth or something you could also move to get up over 200k.
civility
Posts: 102
Joined: Mon Jun 17, 2019 9:35 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by civility »

Thanks all for sharing the information about current offers.
student
Posts: 5566
Joined: Fri Apr 03, 2015 6:58 am

Re: Rollover offers

Post by student »

civility wrote: Tue Jun 15, 2021 3:52 pm [Thread has been merged into the existing thread noted in the next post- Moderator Misenplace]

Hello,

I am changing jobs, planning to rollover my retirement account(around 150K) by this month end. Schwab has $500 offer for rollover, anyone aware of other offers better than Schwab at this time.

Thanks!
If you do not mind the hassle, you can transfer $100k to Schwab for the $500 and $50k to Etrade for $200. You can compare the service of the two and consolidate later.
User avatar
jeffyscott
Posts: 9764
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Location: Wisconsin

Re: Rollover offers

Post by jeffyscott »

student wrote: Wed Jun 16, 2021 5:45 am
civility wrote: Tue Jun 15, 2021 3:52 pm [Thread has been merged into the existing thread noted in the next post- Moderator Misenplace]

Hello,

I am changing jobs, planning to rollover my retirement account(around 150K) by this month end. Schwab has $500 offer for rollover, anyone aware of other offers better than Schwab at this time.

Thanks!
If you do not mind the hassle, you can transfer $100k to Schwab for the $500 and $50k to Etrade for $200. You can compare the service of the two and consolidate later.
Or reverse that and get $300 from Schwab and $500 from E-trade :)
The two greatest enemies of the equity fund investor are expenses and emotions. ― John C. Bogle
student
Posts: 5566
Joined: Fri Apr 03, 2015 6:58 am

Re: Rollover offers

Post by student »

jeffyscott wrote: Wed Jun 16, 2021 8:37 am
student wrote: Wed Jun 16, 2021 5:45 am
civility wrote: Tue Jun 15, 2021 3:52 pm [Thread has been merged into the existing thread noted in the next post- Moderator Misenplace]

Hello,

I am changing jobs, planning to rollover my retirement account(around 150K) by this month end. Schwab has $500 offer for rollover, anyone aware of other offers better than Schwab at this time.

Thanks!
If you do not mind the hassle, you can transfer $100k to Schwab for the $500 and $50k to Etrade for $200. You can compare the service of the two and consolidate later.
Or reverse that and get $300 from Schwab and $500 from E-trade :)
Even better.
pre
Posts: 117
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

Might anyone have done an ACAT transfer from Schwab to TDA, or vice versa, since their merger?

I did a full transfer from Schwab to TDA a month or two ago and noticed no outgoing transfer fee was charged. I've done similar partial and full transfers between the two and have always been charged the listed fee. Perhaps the Schwab to TDA transfer is treated as an internal transfer nowadays, thereby waiving the fee. Reckon it's one of the very, very few advantages of the merger, for us, the consumer...
tenkuky
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Joined: Sun Dec 14, 2014 4:28 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tenkuky »

pre wrote: Sat Jun 26, 2021 3:53 am Might anyone have done an ACAT transfer from Schwab to TDA, or vice versa, since their merger?

I did a full transfer from Schwab to TDA a month or two ago and noticed no outgoing transfer fee was charged. I've done similar partial and full transfers between the two and have always been charged the listed fee. Perhaps the Schwab to TDA transfer is treated as an internal transfer nowadays, thereby waiving the fee. Reckon it's one of the very, very few advantages of the merger, for us, the consumer...
This is good news for me as I'm trying to do the reverse soon, TDA to Schwab, once my TD Rewards card becomes less attractive.
m2go
Posts: 104
Joined: Fri Jun 17, 2011 7:05 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by m2go »

I'm looking to move my accounts around for a new round of bonus offers. SLim pickings these days, and even less options for IRA as far as I can tell.
This site appears to have a good list of offers currently out there => https://www.moneycrashers.com/best-brok ... us-offers/

I tried to sign up for Ally, but it said I was an "existing customer" because I had an account a few years ago, and made me log in. Then, didn't find a way to apply with the promo. Has anybody with past Ally Invest account managed to get a promo?

Can you recommend other accounts with generous transfer offers? (I have currently have Citi, Etrade, Ameritrade, but I am happy to move funds out from each of them to be a "new customer", provided history doesn't count like it seems at Ally.)

Thanks for your advice
tj
Posts: 4759
Joined: Thu Dec 24, 2009 12:10 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

m2go wrote: Sat Jul 03, 2021 11:17 am I'm looking to move my accounts around for a new round of bonus offers. SLim pickings these days, and even less options for IRA as far as I can tell.
This site appears to have a good list of offers currently out there => https://www.moneycrashers.com/best-brok ... us-offers/

I tried to sign up for Ally, but it said I was an "existing customer" because I had an account a few years ago, and made me log in. Then, didn't find a way to apply with the promo. Has anybody with past Ally Invest account managed to get a promo?

Can you recommend other accounts with generous transfer offers? (I have currently have Citi, Etrade, Ameritrade, but I am happy to move funds out from each of them to be a "new customer", provided history doesn't count like it seems at Ally.)

Thanks for your advice
The best offer I know if is still the Interactive Brokers 1k of their stock for $100k. Have to wait a year for the 1k to vest though.
SlowMovingInvestor
Posts: 2834
Joined: Sun Sep 11, 2016 11:27 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

m2go wrote: Sat Jul 03, 2021 11:17 am I'm looking to move my accounts around for a new round of bonus offers. SLim pickings these days, and even less options for IRA as far as I can tell.
This site appears to have a good list of offers currently out there => https://www.moneycrashers.com/best-brok ... us-offers/

I tried to sign up for Ally, but it said I was an "existing customer" because I had an account a few years ago, and made me log in. Then, didn't find a way to apply with the promo. Has anybody with past Ally Invest account managed to get a promo?

Can you recommend other accounts with generous transfer offers? (I have currently have Citi, Etrade, Ameritrade, but I am happy to move funds out from each of them to be a "new customer", provided history doesn't count like it seems at Ally.)

Thanks for your advice
The TradeStation bonus looks pretty good. Has anyone got a bonus with TradeStation before ? If so, any comments ?
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